P.R. Laws tit. 13, § 31044
(a) In general.— The total sum of the taxes imposed by § 31011(a) of this title reduced by the credits provided in §§ 31041 and 31042 of this title shall be credited against such taxes, insofar as:
(1) At the time of his/her death, the decedent has no debts pending payment on account of tax liabilities, and
(2) the executor meets the payments, within the terms established by law, of the tax liabilities payable after the time of death of the decedent.
(b) Tax liability.— For purposes of this section, the term “tax liability” shall include all taxes imposed by this Code, under the Puerto Rico Internal Revenue Code of 1994, or under any preceding laws of a similar nature, as well as the taxes imposed by §§ 5001 et seq. of Title 21, known as the “Municipal Property Tax Act”, or any succeeding law superseding it, and the taxes imposed by §§ 651 et seq. of Title 21, known as the “Municipal License Tax Act”. The term “tax liability” shall also include those taxes applicable to a corporation or partnership, when the decedent holds over ten percent (10%) of stock (by value or voting stock) in such corporation or partnership.
(c) For purposes of the credit provided in this section, it shall be understood that, at the time of death, the decedent did not have any debts pending payment on account of taxes if the total amount of such taxes does not exceed the lesser of one percent (1%) of the decedent’s gross estate or five thousand dollars ($5,000).
History —Jan. 31, 2011, No. 1, § 2024.04, retroactive to Jan. 1, 2011; Dec. 10, 2011, No. 232, § 126.